Play Editor's Note: Today's rebound in the markets, even if it was mostly just short covering, went a long way to confirming that last Friday was indeed an important bottom in the market. It's still early yet in the game but my bias is much more bullish. Stocks are likely to see some follow through higher on Tuesday morning but there will be some profit taking after such a tremendous move up from Friday's lows. Be patient and way for the dips before jumping in. Buying the dips and selling the rips is still a good strategy. Today's move provides a picture perfect, albeit volatile, three-day bullish reversal candlestick pattern on the S&P 500 index as well as many stocks and additional indices.
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